Texas Permanent School Fund Sells 6,864 Shares of Rayonier Inc. (NYSE:RYN)

Posted by on May 8th, 2023

Texas Permanent School Fund lessened its position in Rayonier Inc. (NYSE:RYN – Get Rating) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 98,439 shares of the real estate investment trust’s stock after selling 6,864 shares during the quarter. Texas Permanent School Fund owned approximately 0.07% of Rayonier worth $3,245,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RYN. EverSource Wealth Advisors LLC raised its position in Rayonier by 97.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 883 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 436 shares during the last quarter. Ronald Blue Trust Inc. raised its position in Rayonier by 50.3% in the 4th quarter. Ronald Blue Trust Inc. now owns 938 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 314 shares during the last quarter. Bessemer Group Inc. raised its position in Rayonier by 39.3% in the 3rd quarter. Bessemer Group Inc. now owns 1,699 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 479 shares during the last quarter. Captrust Financial Advisors acquired a new stake in Rayonier in the 2nd quarter valued at approximately $105,000. Finally, CENTRAL TRUST Co increased its position in shares of Rayonier by 5.2% during the 3rd quarter. CENTRAL TRUST Co now owns 6,097 shares of the real estate investment trust’s stock worth $183,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 82.87% of the company’s stock.

Rayonier Stock Up 0.1 %

NYSE:RYN opened at $29.95 on Monday. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 51.64 and a beta of 0.96. Rayonier Inc. has a twelve month low of $27.81 and a twelve month high of $42.05. The stock’s 50 day moving average price is $32.42 and its two-hundred day moving average price is $33.79. The company has a quick ratio of 1.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.82.

Rayonier (NYSE:RYN – Get Rating) last posted its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.07). The business had revenue of $179.10 million for the quarter, compared to analyst estimates of $210.13 million. Rayonier had a return on equity of 3.44% and a net margin of 9.94%. The firm’s revenue was down 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.20 earnings per share. Equities research analysts expect that Rayonier Inc. will post 0.36 earnings per share for the current fiscal year.

Rayonier Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 17th were issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Thursday, March 16th. Rayonier’s payout ratio is presently 196.55%.

Analyst Ratings Changes

Several research firms have weighed in on RYN. Citigroup lowered their price target on Rayonier from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, April 6th. StockNews.com raised Rayonier from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd.

Rayonier Profile

(Get Rating)

Rayonier, Inc is a real estate investment trust, which engages in investment in timberlands. It operates through the following business segments: Southern Timber, Pacific Northwest Timber, New Zealand Timber, Real Estate, Timber Funds and Trading. The Southern Timber, Pacific Northwest Timber and New Zealand Timber segments reflect all activities related to the harvesting of timber and other value-added activities, such as recreational licenses, within each respective geography.

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Institutional Ownership by Quarter for Rayonier (NYSE:RYN)

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